Monday, April 2, 2018
The GBP/USD tries to go back up
The
GBP/USD has been slowly getting higher from the 1.4000 zone, but it has not
been able to break above the 1.4100 level. Regardless of the bearish correction
during last week, the GBP/USD keeps a bullish trend in the short term and its
55 day EMA has been holding the price to the upside. But on the other hand, the
1.4041 level and the 1.4300 level have been acting as good resistances due to
the fact that we can find the 200 week EMA at the 1.4041 level and the 55 month
EMA at the 1.4300 level. A breakout above the 1.4100 level could take the
GBP/USD to the 1.4200 or the 1.4300 level. To the downside, the 55 day EMA may
act as support, but also the 1.3900 and the 1.3700 levels could act as support.
In reality, the most relevant support is at the 1.3600 level where we can also
find the 200 day EMA.
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The up trend seems to be losing strength.
ReplyDeleteThis may be a temporary correction.
ReplyDeleteIt seems to have found some support
ReplyDeleteThe move to the downside continues.
ReplyDeleteGreat analysis!
ReplyDeleteGood take on markets!
ReplyDeleteVery useful information! Thanks.
ReplyDeleteGreat post! I fully agree with your view.
ReplyDelete